weak prmkt. below 132.75 not a good sign. main focus is on fresh stuff though so only watching mkt out of the corner of my eye. SPY support around 132-131.80. resistance 132.75 and 133.20ish Morning Idea: LVS long above 48.50
Lessons and Levels from today’s trading session
Besides MM I really didn’t catch anything today. I paid for information on some important levels which perhaps will pay me tomorrow. I played for BRCM to trend above 38 and then 38.20 and then 38.50. But BRCM dropped out and never really drove. I have set an alert of above 38.80 for BRCM. If it holds above here we … Read More
SMB Morning Rundown for July 26, 2011
slightly positive tone this morning. market resetting and getting ready for next trend. SPY levels. 133.80 and 133.20 support. 134.20, 134.45 resistance.
Doing Your Post-Market Analysis
Every intraday trader should have a routine for their post-market review. It is just as important as preparing before the open. It is a great time to reflect on your trading day. Whether you ended the day green or red should not matter. It is part of the job. Post market is the best time to reflect on the … Read More
Trading Thought of the Day – July 25, 2011
Let the market come to you. You cannot control your trading opportunities just managing your risk for the opportunities the market offers. – Bella
SMB’s Options Tribe 7 19 2011
SMB’s Options Tribe is an online community of options traders dedicated to sharing successful options trading ideas with all of our members worldwide. Each week the community will meet online for the primary purpose of watching live presentations made by outstanding veteran options traders and experts in the world of options trading. Last week, Steve Lentz of Optionvue returned to … Read More
SMB Morning Rundown for July 25, 2011
Some weakness overnight with congress failure to come up with agreement to raise debt ceiling. strong backdrop still exists overall and the market is well above overnight lows. SPY levels to watch 133.15-133.25 support. 133.90-134 resistance. 134.80 resistance. 132.75 support. Best Am Idea: Long ETFC above 16.50 level